Deal: Everett Mall Office Building
Location: Everett, WA
Collateral: A two-story, 50,000 square foot office building adjacent to Everett Mall.
Amount: $3,560,000
Type: Perm, Refinance
Purpose: With their current mortgage coming due, and concerns about rising interest rates on the horizon, the borrower wanted to refinance their existing mortgage into one with a long-term fixed rate. We secured a deal which met the borrower’s requirements and which allowed the borrower to rest assured knowing that their rate was locked in for a very long time. This loan was funded by one of our life insurance lenders which offers permanent loans with fixed rate periods of up to 25 years.